Martin Eales CEO speaks with Share Talk about Rainbow Rare Earths new listing to the London Stock Exchange. What the company has to offer share holders, Gakara Project and overall cost’s to bring the asset in to production.
Rainbow CEO, Martin Eales, said: “Our Gakara Project continues to differentiate itself from its peers; modest capital expenditure of just US$2.23 million and low cost, simple processing route to produce rare earth element (REE) concentrate directly into the market this year presents investors with a very compelling proposition. The measurement which really sets Gakara apart however is its grade. Our project boasts an in-situ grade in the range of 47-67% TREO, making it one of the highest grade REE projects globally.
“With recent shifts in the rare earths market, driven by the increasing demand for powerful magnets used for electric vehicles, motors and wind turbines, we believe that now is an optimal time for Rainbow to produce REE concentrate. Beyond the extremely high-grade ore and low-capital expenditure associated with the initial development of the project, the Company also benefits from strong support for the development of Gakara, both from the Burundi government and the local community, together with our offtake partner, tk Raw Materials.
“With the leadership team’s impressive collective experience, the strong governmental and local support and the innate potential of the Gakara Project, we are confident that we have a strong foundation from which to establish and scale a rare earth production company in East Africa. We have a defined development strategy in place and following the support we have received from our new investors, I am confident that the Company is well-positioned to create near and long-term value. The Company’s listing on the London Stock Exchange marks the first significant step in its genesis and we look forward to providing the market with updates on our progress in due course.”
Rainbow Rare Earths
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